Indian sponge iron prices rose by around INR 100-350/t d-o-d across most regions, supported by improved seller confidence following late-evening trading activity in the previous days market. BigMint recorded trade volumes of around 10,000 t today, nearly 50% lower than yesterday.
BigMint’s billet index increased by INR 200/t d-o-d to INR 42,150/t exw-Raipur. The conversion spread between pellet-based direct reduced iron (PDRI) and billets for standalone induction furnaces in the Raipur cluster was assessed at INR 13,100/t.
BigMint’s domestic end-cutting scrap index, tracking the Mandi Gobindgarh market, eased by INR 200/t d-o-d to INR 42,000/t DAP.
The following sheet summarises confirmed trades /offers of iron and steel products collected by BigMint to help our users keep track of day-to-day trade dynamics.
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